Sidelines

defi nft dexplain news bitcoin ethereum solana and more

First to admit may have stayed a little too much on the sidelines this week, it has been hard to get a clear read on Bitcoin’s next direction as it continues to range between 52k-55k. Still, sometimes the best thing a trader can do is sit on their hands.

Starting to feel a little uneasy that Biden’s commitments to a $2 trillion infrastructure plan and a $1.8 trillion plan for families, children, and students make the dangers of rising inflation from money printing too real. And investors seem to be getting a little too carefree with the thoughts that the FEDs and other Central Banks of the world will “pump” the market if we see any downturns. Might be overly cautious, but rule number one is always capital preservation! 

Hope you have been enjoying some of our shared trade setups in Discord and Tradingview, this idea for CREAM played out perfectly. Stay safe!


Crypto News


DeFi News

  • Polygon: Announced a $150M fund to make DeFi more accessible and cost-effective. With Aave and Curve launched on Polygon, it’s looking like the MATIC ecosystem might be the next destination for some new yield farming mania?
  • Indexed Finance: Launched a new index token called ERROR, which consists of VSP, ALPHA, SUSHI, BADGER, YAXIS, and BDP. The index has been created based on the interests of one of the biggest DeFi wallets known as 0x_b1 on Twitter.  
  • Media Network: The MEDIA ido on Raydium was oversubscribed in a couple of minutes, with so much demand the website crashed a couple of times. Great news for the project’s future, and an even better sign for Solana’s ecosystem to grow.
  • Phuture: Raised $1.5m in seed funding to launch an indexing protocol on Ethereum, backed by several VCs such as NGC Ventures, Moonrock Capital, and SevenX. One to follow should create some attractive passive index strategies. 
  • CovalentLaunched to mainnet, meaning the platform will move to be a decentralized data layer for Web3 instead of a centralized API for queries. Remember the team chose to use Moonbeam on Polkadot for their settlement layer, good news for parachains! 
  • Hashflow: A new hybrid approach to DeFi trading, combining the best of DEXs with the efficiency of a professional OTC trading desk, the team refers to it as an un-automated market maker. Has launched with $3.2m in private funding from Electric Capital, Dragonfly Capital, and Alameda Research – expecting this project to grow fast! 
  • HFI: If you’ve been struggling to buy WOO because of high network fees on Uniswap, then make sure you get on Huobi Eco Chain. Staking will be going live on HFI for WOO token today
  • Venus Protocol: Binance Card holders can now spend XVS or VAI directly from their card wallets while earning up to 8% cashback in BNB. Find our full review on Binance Card here
  • 1inch: Launched their iOS app which intends to be the best DeFi wallet, enabling access to over 50+ DEXs across Ethereum and Binance Smart Chain.
  • Kylin Network: Announced a partnership with Plethori, a cryptocurrency ETF investment platform on Polkadot. Great news for KYL holders, check out our full review here.
  • Akropolis: Struggling to find the best DeFi yield strategy for your funds? Akropolis just released a handy little dashboard calculator to do the heavy lifting for you. Learn more about AKRO token in our overview article.
  • DexTools: Announced a partnership with Standard Protocol, the first Collateralized Rebasable Stablecoin (CRS), to help onboarding new users. Learn more about DEXT’s analytic tools here.
  • Dock: Launched the world’s first universal verifier for credential data of institutions and users. Amazing milestone for DOCK, check out this interview we did with the team last year – have come a long way since then! 

NFT Spotlight

Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.


Ra

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